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Strategies & Market Trends : Asia Forum
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To: George Papadopoulos who wrote (3597)5/14/1998 11:55:00 PM
From: Stitch  Read Replies (1) of 9980
 
George,
Your random thoughts can be the stuff of nightmares. My Malaysian Chinese wife remembers 1968 very well and the terror it struck in her young heart to have to huddle in her home with her family for 4 days while members of the Malay armed forces shot Chinese on sight. She remembers the sounds of gunfire. It is this event that is most often given as the excuse for stacking the economic deck in Malaysia towards the so-called bumi putera (which means son of the land). Fact is the Chinese were and likely are, considerably more astute at business then the Malay in a broad way (I know how this sounds, but I do believe it). So, the Malay, instead of competing on an equal basis stacked the deck in their favor. It is said that the Chinese seek money to achieve power. The Malay seek power to achieve money. In those days they got violent if things didn't go their way. The precipitant for the riots were an election that had swung in favor of the Chinese who were foolish enough to parade through the streets taunting the opposition. Your wife has every reason to express a concern if she lived through those days. In reality however its very different here then in Indonesia where 5% Chinese population controls a very high percentage (forgot what I read) of the business with a few of the politically connected indigenous Indon's getting filthy rich. Resentment is not a surprise by-product. Of course there is subsurface racial resentment here in malaysia. And I assume it could bubble up. But IMO it is not likely to. For one thing the Chinese are expecting that the reforms here will partially blunt the Bumi laws while the Bumis realize they need the Chinese' money now more then ever. There is, and will likely continue to be, a coalition here. I should also mention that the government has long had a very active education campaign promoting the notion of "Malaysian" versus Malay or Chinese or Indian. From some conversations I have had with younger folks I think it is actually working to a degree. There is a Malaysian patriotism here that crosses cultural boundaries. I have never seen much in the way of that in Indonesia.

You may want to visit the Hong Kong thread and pose your question about HKT to Doug DeShong or Tom Yarnall. Both are very versed in the Hang Seng stocks and financial markets. Here is a click for convenience:

exchange2000.com

Best,
Stitch
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